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Bank borrowings (Tables) - Bank borrowings

6 Months Ended

Sep. 30, 2020

Bank borrowings

Schedule of analysis of bank borrowings

​

​	​	​	​	​
​	​	As of	​	As of
​		March 31, 2020		September 30, 2020
​	​	(in millions of RMB)
Current portion:	​	​	​	​
Short-term other borrowings (i)	​	5,154		4,903
Non-current portion:	​	​		​
US$4.0 billion syndicated loan denominated in US$ (ii)		28,211		27,122
Long-term other borrowings (iii)		11,449		12,277
​		39,660		39,399

​

(i) As of September 30, 2020, the Company had short-term borrowings from banks which were repayable within one year or on demand and charged interest rates ranging from 1.6% to 16.2% per annum. As of September 30, 2020, the weighted average interest rate of these borrowings was 3.0% per annum. The borrowings are primarily denominated in RMB or HK$.

(ii) As of September 30, 2020, the Company had a five-year US$4.0 billion syndicated loan, which was entered into with a group of eight lead arrangers. The loan has a maturity in May 2024 and was priced at 85 basis points over LIBOR. Certain related floating interest payments are hedged by certain interest rate swap contracts entered into by the Company. The proceeds of the loan were used for general corporate and working capital purposes (including acquisitions).

(iii) As of September 30, 2020, the Company had long-term borrowings from banks with weighted average interest rates of approximately 4.3% per annum. The borrowings are primarily denominated in RMB.

Schedule of borrowings under the credit facilities are due

​

​	​	​
​		Principal amounts
​		(in millions of RMB)
Within 1 year		4,903
Between 1 to 2 years		1,856
Between 2 to 3 years		705
Between 3 to 4 years		29,027
Between 4 to 5 years	​	2,773
Beyond 5 years	​	5,160
​		44,424

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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